Camden Property Trust Announces 5.75M Public Offering of Common Shares

Camden Property Trust

today announced that it is offering 5,750,000 common shares in an underwritten public offering. Camden intends to use the net proceeds to fund the acquisition of the 80% interest not currently owned by Camden in 12 related joint ventures and the repayment of the mortgage debt secured by properties owned by these joint ventures. All of the shares are being offered by Camden and will be issued under Camden's currently effective shelf registration statement filed with the Securities and Exchange Commission. Credit Suisse, Deutsche Bank Securities and UBS Investment Bank will act as the underwriters for the offering. Camden has also granted the underwriters an option to purchase an additional 862,500 common shares.